Fit2beFit: I've checked around, and unless I've missed someone, there are no dealers left who are selling reserves. What I'm wondering is.... Since it appears that reserves were being sold illegally (for whatever reason; lack of proper registration, etc.), it only follows that anyone who is holding currency purchased through a reserve program could very well end up have it confiscated.

Fit2beFit: Wouldn't that currency be considered evidence in the dealers court proceedings?

Doug_W: because it never changed hands

ajay214: unless they could prove what bills you received for that specific purchase, they could not confiscate it

Doug_W: but it would have had to change hands 4 that AJ
~~~

ajay214: ‹@Doug_W› correct - I was meaning if you let it expire and they send you the 100K or whatever - they would have to prove what you got form a reserve and otherwise - it would never happen Fit2beFit: Never say never in this investment :silly: ajay214: I can say they will never get mine!
ajay214: because I never bought reserves
ajay214: lol Fit2beFit: ‹@ajay214› Prove it. Send me them all so I can double check you. :silly: :sideways: :silly: ajay214: oh ok then - where do I send it lol Fit2beFit: ‹@ajay214› Donald Trump The Trump Organization 725 5th Avenue New York, NY 10022 USA ajay214: think he needs my money lol Doug_W: totally AJ Doug_W: ok back to Nascar practice now ajay214: I think he spends far more on suits than I make a year Fit2beFit: ‹@ajay214› Yes, For Hair Club for Men ajay214: ‹@Fit2beFit› lol BOBBY: afternoon all Fit2beFit: Any thoughts on this..... Not only were they sold illegally, they were purchased illegally. The buyers would not have been qualified thru the Regulation-D guidelines. Here is a link: www.ecfr.gov/cgi-bin/retr... So, they could be confiscated, evidence or not.http://www.ecfr.gov/cgi-bin/retrieveECFR?gp=&SID=8edfd12967d69c024485029d968ee737&r=SECTION&n=17y3.0.1.1.12.0.46.176 Fit2beFit: Reserves Tootsie: That applies to commodities and security exchanges, and none of the "broker/dealers" we delt with were security/commodity companies. Fit2beFit: ‹@Tootsie› So you know for a fact its not illegal Tootsie: They were just licensed money handlers. Heck, they would have to stop selling currency at airports and other vendors = That is precisely why they do not / are not capital gains. only NASDAQ etc are eligible for short term/long term capital gains. Fit2beFit: ‹@Tootsie› The subject is RESERVES Tootsie: Banks were selling (they are not NASDAQ) Fit2beFit: ‹@Tootsie› The subject is RESERVES Tootsie: I don't think it matters, not commodities/ or securities Tootsie: which is what this is ~~ Title 17 → Chapter II → Part 230 → §230.501 Browse Previous | Browse Next Title 17: Commodity and Securities Exchanges PART 230—GENERAL RULES AND REGULATIONS, SECURITIES ACT OF 1933 Tootsie: we will see, when ~~ just wish would get over with , been tooooo danged long Dianne777: ‹@Tootsie› amen and AMEN!!!! BOBBY: Tootsie...... question for you... whats your thoughts on seeing an end tovthis? sooner or later? Tootsie: As used in Regulation D (§230.500 et seq. of this chapter), the following terms shall have the meaning indicated: (a) Accredited investor. Accredited investor shall mean any person who comes within any of the following categories, or who the issuer reasonably believes comes within any of the following categories, at the time of the sale of the securities to that person:~~~ IQD is not a security and we are not considered "investors" clearly Fit2beFit: RESERVES Tootsie: ‹@BOBBY› ohhhh, man~! have no clue BOBBY: tootsie. .... opinion? ??? Tootsie: reserves are not securities either , not NASDAQ etc. Heck currency traders don't even fall under such Fit2beFit: Where does is it state about reserves thou? Tootsie: ‹@BOBBY› I fear we may be a bit away BOBBY: Tootsie... i agree 100 percent Tootsie: ‹@Fit2beFit› you are thinking stock/bond type 'investment' one can't purchase bond /stocks on a 'reserve/laway program' they can purchase shares through NASDAQ broker in companies etc. Fit2beFit: ‹@Tootsie› So you stating, it states that the reserves are legal, were legal for them to do,...please show me that Tootsie: ‹@Fit2beFit› Tootsie: no I am not saying that , not at all, just that the dinar does not fall into the category (or the dealers/banks that sold it) if commodities and securities exchanges Tootsie: regs Fit2beFit: ‹@Tootsie› That does not follow into the category of them doing the "reserve business", does it? Tootsie: which is what the referenced laws/acts is. Fit2beFit: Ok where does it reference them able to do, sell, promote reserves? Tootsie: they are NOT securities exchange/commodity agents/ ~~ so so so they don't fall into that act. they are not connected in any way/shape/form with the stock trading oil trading, gold etc. Fit2beFit: Which means there is no proof about "selling reserves" legal or nonlegal under their license type ANYWHERE Tootsie: ‹@Fit2beFit› Idon't see where the confusion lies. They are just people like you and I who started a money exchange business ~ not an investment business. so that act does not apply to them , the iqd dealers. I do not know for positive what (as I did not finish reading/studying the charges) , that deams them illegal, just that the quoted commodities act is not what covers such.

Tootsie: ‹@Fit2beFit› have to read the charges to see what they are discussing (in case) many endeavors they DC, participated in, monex ~ interestingly, the charges stated apply to most of them (dealers/money exchangers: ouch!

Tootsie: fbi ones

Fit2beFit: Reserves, after researching it and read so much into it, I believe will come down to illegal to either their license type, possession of enough to cover it and im sure alot more

Tootsie: ‹@Fit2beFit› they sure made a hunk of bucks with such, all of them!

Fit2beFit: Either way, its just keeps getting interesting

BOBBY: Tootsie. .... are you discussing the various reserve programs?

Tootsie: ‹@BOBBY› guess so ~

Tootsie: well, nap time - Days of Our Lives hahaha and a sammich ~ sure fire way to get 1/2 hr snooze hahaha. Enjoy – bye

BOBBY: judging by membership numbers on here i believe many are landing here

Fit2beFit: Everyone should have their right to state their feelings on this investment, its future, etc etc

BOBBY: Fit2befit... agreed..... i dont see any hinderence of that here

Reserves, selling reserves, this is just an agreement of putting down a deposit on a purchase in order to have it held for a specified period time to allow the purchaser to come up with the funds to complete the purchase. Now if a merchant lets say six people provide deposits on three items to put them in reserve, the merchant might be selling reserves illegally, what happens if all six customers pay off their reserve to find that there was not sufficient stock to cover the reserve, who is in legal trouble?

The purchasers have done nothing illegal, but if the reserves were being sold illegally as in excess of available stock, it could be possible that as a matter of recourse anyone who paid for reserves in excess of available stock could be entitle to their money back and punitive damages?

I have no legal training and have no authority on the subject, but from my point of view those who legitimately purchased a product after putting it on reserve should have nothing to worry about, because the illegal reserves would be for the inventory that wasn't there, not the inventory that was?

Reply

luckylindy

8/7/2015 09:22:43 am

Question: If these Suppliers set up a Business selling and buying Currencies, would they have to have a License? Would they have to report earnings to the IRS? They would if they registered as a Business, have an EIN #, and make a Profit of such n such amount which is taxable. If they did this, they would have a legitimate business and if they paid taxes then the currencies would be legal as they were sold in a Legitimate business. Its not the Dinar or Dong thats illegal. Its whether the Dealers had the Right to Buy and Sell in the U.S. or Abroad. Also, Where or from Who did they purchase the Currencies?

Currency does not fall under any SEC rules or regulations. The applicable laws and regulations can be found or referenced on the above site. Thanks.

Reply

Dean Hedges

8/7/2015 03:33:38 pm

There is a big difference between reserve and layaway ... each is structured differently. .. thus sterling with layaway got charged under a certain set of laws and DC with reserves got charged under a different manner, I would suspect that if dc encouged and allowed rolling over the reserves, then the dc Corp itself "commoditized" the currency, and yes, those who rolled over the reserves, without knowledge that this made it a commodity structure could be penalized, while the layaway
Of sterling was structured differently and buyers in that instance could be considered victims

Big differences between the two corporations which in turn will lead to big differences in the penalty phase.